U.S. Spot Solana ETFs Post $24.2 Million in Outflows

U.S. spot Solana ETFs registered $24.2 million in net outflows on Friday, Nov. 6, according to the reported fund-flow data. The result extended withdrawals to a second straight trading day and lifted the five-day net outflow to $25 million. Cumulative net flows since the products launched remained positive at $1.435 billion.

Where did the outflows land?

Bitwise Solana Staking ETF (BSOL) posted the largest outflow, at $14.4 million. Grayscale Solana Trust (GSOL) lost $5.4 million, while MSOL registered $4.4 million. VSOL, FSOL, TSOL and SOEZ each recorded zero net flow. No fund reported an inflow.

The three negative readings make up the full $24.2 million daily outflow because the other four funds were flat. That concentration is more informative than the headline alone. It shows where the net outflow pressure came from without suggesting every product in the group faced the same demand.

The source does not provide gross flow figures for the four flat funds. Zero net flow therefore does not show that they saw no trading at all. It only establishes that any offsetting movements left no net change for the day.

How significant is the withdrawal run?

The Nov. 6 figure followed a $0.8 million net outflow on Nov. 5. Across the last five trading sessions, the funds recorded a combined net outflow of $25 million. That five-day figure captures the current withdrawal run more cleanly than a single session can.

The pace changed sharply on Friday. The $24.2 million outflow was substantially larger than the $0.8 million recorded the prior day. Because those two figures add up to the reported five-day total, the other three sessions in that window netted to zero collectively. The withdrawal pressure was concentrated at the end of the period rather than spread evenly across all five sessions.

A second straight outflow confirms that the pattern has lasted beyond one session. It does not show that October’s nine-day withdrawal streak has restarted. The source identifies no catalyst for either episode and gives no breakdown of the investor activity behind the flows.

What does this change for investors?

For investors, the immediate change is continued near-term selling pressure in a group that still carries a large positive cumulative flow position. The pressure is concentrated. BSOL registered the largest outflow, while GSOL and MSOL also posted net withdrawals and four products did not.

The broader cumulative number remains the counterweight. At $1.435 billion, net inflows since launch stayed positive despite the latest withdrawals. The $25 million five-day outflow reduced that total, but the reported figures do not show a broad-based exit across the lineup.

That distinction limits what the two-day streak can establish. The fund-level data do not identify a reason for the selling, and they do not disclose gross creations, redemptions, trading volume or the mix of investors behind the flows. Those details would be needed to judge whether the net figures reflect broad participation or a smaller number of larger transactions.

The next test comes in the next trading session. A third session of net withdrawals, especially if VSOL, FSOL, TSOL or SOEZ moved below zero, would broaden the pressure. If the four flat funds remained stable and the outflows at BSOL, GSOL and MSOL faded, the episode would look more contained.

For now, the verified position is simple: $24.2 million left the U.S. spot Solana ETF group on Nov. 6, the five-day net outflow reached $25 million, and cumulative net inflows since launch remain $1.435 billion. The next session’s flow data should show whether this is a short, concentrated run or the start of another extended withdrawal streak.